Competition watchdog transfers millions to Treasury

The Namibia Competition Commission (NaCC) collected N$13.1 million in pecuniary penalties between August 2022 and December 2023 from entities which were found to have contravened the country’s competition laws. These penalties, according to a media statement issued by NaCC’s corporate communications practitioner Dina //Gowases, were transferred into the State Revenue Fund. The penalties emanate from investigations into collusive practices between various insurance companies with regards to panel-beating services, where it was found the insurance companies colluded by setting panel-beater fees. Another probe uncovered restrictive agreements between insurance companies and windscreen retailers.

- STAFF REPORTER